Daimler-backed Farasis unveils new battery product

Chinese battery maker Farasis unveiled on Friday a battery product, saying that it can extend the mileage by 400 kilometers in 10 minutes at fast-charging facilities at 300 to 350 kW.

This is much faster than the current batteries in the market. Usually, it will take several hours for an electric model to get fully charged.

The product, called Super Pouch Solution, uses layered battery cells, which are encompassed by a cast polypropylene film, an aluminum foil, and a nylon film.

The materials and the structure have enabled the product to have better performances, said Farasis, in which Daimler holds around a 3 percent stake.

Compared with Tesla's 4680 batteries, the SPS product has a size that is 12 percent smaller, a heat efficiency 60 percent higher, and a life cycle two times longer, said Farasis Chairman Wang Yu.

Established in 2009, Farasis has an annual production capacity of 21 GWh. Its customers include Daimler, GAC Group, Geely and Dongfeng.

In the first half this year, the battery maker's operating revenue reached 5.22 billion yuan ($752.20 million), up 495.48 percent year-on-year.

The company is expected to scale up its combined production capacity to around 150 GWh by 2025 at four plants in China and one in Europe, said Wang.